Bitcoin edges back below 60k

Bitcoin peaked at 61,337 yesterday afternoon, above its 50 day moving average, but stalled just short of its 100 day moving average, then at 61,365. Right now the 50 day is in place at 59,292 and the 100 day is at 61,260. Hence both are still trending lower. The price action seen so far today has just seen BTC drop back below 60k once more, from an earlier session high around 60,750. The low seen a short while ago was set at 59,833. Hence, right now BTC is sandwiched between those two moving averages. The lead coin will react to whatever the Fed has to throw at the US stock markets and of course it could get a boost from a lower cost of carry too, especially if the Fed does cut by 0.50%. Right now, it looks like BTC is not exactly taking any chances with the outcome tonight. Further updates will follow later today and potentially this evening too. Quick News will of course be up and running at 6pm GMT to report on the outcome of that most eagerly awaited Fed policy decision. BTC is currently trading at 59,880